India wary of potential 100% US tariffs over Russian oil
08/08/2026 August 8, 2026 US passes bill threatening 100% tariffs on India The US Senate has passed a bill that would allow the Trump administration
08/08/2026 August 8, 2026 US passes bill threatening 100% tariffs on India The US Senate has passed a bill that would allow the Trump administration to impose tariffs up to 100% on goods from countries like India and China that purchase Russian oil and gas. The bill, according to US lawmakers, is aimed at curtailing Russia's funding for its war in Ukraine.
The Lindsey O Graham Sanctioning Russia and Iran Act of 2026 was passed with an overwhelming vote of 86-11. Why is the bill troublesome for India? India is among the world's top importers of Russian oil and gas, and its purchase of discounted Russian crudes has gone up since the Russia-Ukraine war began in 2022.
With the conflict in the Middle East disrupting energy markets, Russian crude has become an important alternative source for Indian refiners. If 100% tariffs are imposed on Indian goods exported to the US, it will make them significantly more expensive, which could force US importers to look for alternative suppliers.
The bill does not automatically impose tariffs, but rather allows US President Donald Trump the discretion to impose them, with the implementation depending on the final law and subsequent executive decisions.
The BriefWire